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Kirkland Lake Gold (ASX:KLA) - President & CEO, Tony Makuch - The Market Herald
President & CEO, Tony Makuch
Source: CNBC Television [YouTube]
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  • Kirkland Lake Gold (KLA) has reported new high-grade gold intersections at the Detour Lake Mine in northern Ontario
  • The company has now received results for nearly 24,000 metres of the 270,000-metre exploration program
  • The overall aim of this program is to collect data for an updated and expanded mineral reserve and support a new production plan
  • The majority of the results reported on today are from the Saddle Zone which has been underexplored and has no mineral reserves and limited mineral resources
  • The best result comes from the eastern portion where up to 90.03g/t gold was intersected
  • Exploration is continuing at Detour Lake with 12 rigs currently operating to complete the 270,000 metres by the end of the year
  • Kirkland Lake is up a slight 0.56 per cent on the market, with shares trading at $50

Kirkland Lake Gold (KLA) has reported new high-grade gold intersections at the Detour Lake Mine in northern Ontario.

Detour Lake lies near the historical Detour Lake open-pit mine, which produced 1.8 million ounces of gold between 1983 and 1999.

Kirkland Lake has now received results from 40 holes, for 23,911 metres, from the recently announced 270,000-metre exploration program.

The overall aim of this program is to collect data for an updated and expanded mineral reserve and support a new production plan.

The majority of the results reported on today are from the Saddle Zone, which has been underexplored and has no mineral reserves and limited mineral resources.

Nine holes and one wedge hole, totalling 6445 metres, were drilled in the central portion of the Saddle Zone.

Best results include 18.87g/t gold over 2.6 metres, 18.45g/t gold over 2.3 metres and 17.40g/t gold over 3.2 metres.

Kirkland considers all results from this area encouraging as they continue to confirm the presence of a broad corridor of mineralisation.

Fourteen holes, for 8703 metres, were then drilled in the eastern portion of the Saddle Zone to intersect the Detour Mine Trend (DMT) between 150 and 250 metres below surface.

Results include 90.03g/t gold over 2.5 metres and 3.91g/t gold over 23 metres including 35.66g/t gold over two metres.

Kirkland Lake then drilled 10 holes in the central part of the planned West Pit.

Up to 29.37g/t gold was intersected and the results continue to confirm mineralisation into the area under the planned West Pit.

"We continue to have a great deal of success drilling along the DMT. New wide, high-grade intersections continue to confirm the continuity of the mineralised corridor connecting the Main Pit and the planned West Pit," President and CEO Tony Makuch said.

"We are also having success intersecting high-grade mineralisation near the bottom of the mineral resource pit shell in the Saddle Zone, which highlights the potential to add significant new open-pit, and possibly underground, mineral resources," he added.

Exploration is continuing at Detour Lake with 12 rigs currently operating to complete the 270,000 metres by the end of the year.

Kirkland Lake is up a slight 0.56 per cent on the market, with shares trading at $50 at 1:09 pm AEST.

KLA by the numbers
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